Looking at the weekly chart, COSTCO is at an inflection point.
I am looking to enter a position in few days depending on how it moves.
If it will bounce off the uptrend support,
COST might test again resistance level around 220$.
If it is not able to stay above the uptrend support, we might see it going back to the channel main support at around 280-285$.
COST
I am looking to enter a position in few days depending on how it moves.
If it will bounce off the uptrend support,
COST might test again resistance level around 220$.If it is not able to stay above the uptrend support, we might see it going back to the channel main support at around 280-285$.
COSTNote
It broke down the short term up trend support. Looking for confirmation either side for a short term trade.
Long term thesis and uptrend still intact
Note
Broke resistance level at 322 and shot up all the way to 348! I will plot a fibonacci extension to see where this can go.
In any case there is major support around 322 now.
Thinking not only on technical, this company to beat the market!
IMO we can see next 350 short term and then all the way to 360!
Trade closed: target reached
My target was reach so I was able to sell (although early).As I mentioned just now, I will look to see if will go back down to support level to get some "cheap"shares.
As said however,
COST is well positioned and we might not see 322 again fora while!Trade active
monitor!
Aris Bernasconi, MBA, Certified Specialist for Finance and Accounting
E-Mail: aristocks@gmail.com
E-Mail: aristocks@gmail.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Aris Bernasconi, MBA, Certified Specialist for Finance and Accounting
E-Mail: aristocks@gmail.com
E-Mail: aristocks@gmail.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.